Section 256B — Taxation of Chargeable Gains Act 1992: How gains are attributed to the non-exempt amount : charitable trusts

How gains are attributed to the non-exempt amount : charitable trusts 256B 1 This section is about the ways in which attributable gains can be attributed to a non-exempt amount under section 256A.

2 The trustees of the charitable trust may specify the attributable gains that are to be attributed to the non-exempt amount.

3 A specification under subsection (2) is made by notice to an officer of Revenue and Customs.

4 Subsection (6) applies if—

a an officer of Revenue and Customs requires the trustees of a charitable trust to make a specification under this section, and b the trustees have not given notice under subsection (3) of the specification before the end of the required period.

5 The required period is 30 days beginning with the day on which the officer made the requirement.

6 An officer of Revenue and Customs may determine the attributable gains that are to be attributed to the non-exempt amount.